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Acura TSX Lease Questions

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  • delta737hdelta737h Member Posts: 626
    apz4,

    I'm not being, as you say, rude. And, if I was perceived as being rude, then please accept my sincerest apology. I'm sure that AHFC is willing to waive the security deposit but that was never the issue. The issue was whether or not they have a security deposit and, according to the Ad, they do indeed. At least, the Ad leads one to believe that they do. Another issue dealt with the acquisition fee. The Ad IMPLIES that it's $270 not $595 and I would expect them to honor it.

    From my perspective, the Ad is NOT mistaken. It means EXACTLY what it says whether intended or unintended. It's hard to argue with rhetoric. And, yes, a misrepresentation can be intentional or unintentional and can be the result of a mistake. Therefore, a mistake can misrepresent the true facts whether intended or unintended.

    I have no reason to believe that AHFC would intentionally mislead anyone. If, in fact, they didn't make a mistake, then the acq. fee is something different than $595. The only way the acq. fee can be $595 is for the words "security deposit" to be REMOVED FROM THE RELEVANT PORTION OF THE AD which is quite apart different than waiving it altogether.

    2499 = 309 + 595 + 1595

    That's like AHFC saying.... whoops, in order to collect the $595 acq fee, we'll just have to waive the sec. dep. so that the above equation is preserved. I say... oh no, I'll pay the sec dep plus a $270 acquisition fee as the Ad implies or suggests; mistaken or otherwise.

    It's just not good business to craft an Ad and then claim... well, it's not a contract and so we're not liable for whatever we say in an Ad. That's baloney.

    John

    PS: Regarding my question concerning whether Walt worked for Honda/Acura. I meant nothing by it, so please, don't draw falacious inferences or erroneous conclusions. YOU don't know me so don't pretend that you do. "WE ALL know what you meant"???... That's very presumptuous. You have no clue what was on my mind and neither does anyone else. Attorneys often make something out of nothing and create problems where there aren't any. And, as for doing work for free, I do it quite often and NEVER complain. I've been a big help to an awful lot of people in these forums that includes emailing articles I've written and I've been receptive to those wishing to send me personal emails. Read my posts and you can see for yourself.
  • apz4apz4 Member Posts: 7
    delta/John,

    I in no way intend to start a flame war, and my intent is not to insult you. I have read your other posts and you clearly have a full understanding of statistics. However, you are making statements about the law that are not fully correct, probably similarly to what I would do if I started talking about statistics. :)

    Misrepresentation generally...
    First, a false statement is only one requirement to legally prove misrepresentation. Second, an unintentional mistake is generally not actionable in the absence of negligence.

    Third, and this is the funny one, misrepresentation requires justifiable reliance on the person being deceived. As such, John/delta and I, and anyone else reading this thread, should already be aware that the ad has a "false" statement, and therefore we cannot reasonably rely on the ad. Sometimes being smart can hurt you. ;)

    Whether the ad is false...
    I have to disagree here as well because of a reasonable, but perhaps incorrect, assumption you are making. John, you have assumed a 325 security deposit. Logical, yes. But legally binding, no. A one month security deposit is simply the industry convention, not a legal requirement. AHFC could simply turn to you and say that the security deposit is $1 and the bank fee is $594. There is no requirement that they charge a full month deposit. Furthermore, if they waive the deposit, thus a $0 deposit, then the ad is still true... the 2499 includes the required security deposit.

    Ahhh, you might say, but the ad is still misleading... but, none of us know the breakdown of the 2499 until you get into the dealership. The problem is that you know you don't know the breakdown, thus it will be hard to prove that you were mislead. Your computations that back into the number are logical for sure, but legal proof of zippo, unfortunately.

    The biggest mistake people make, especially math/science types (myself included before law school), about the law is assuming that it is logical. How Stupid of you! (just teasing :) ) So, your statement, "From my perspective, the Ad is NOT mistaken. It means EXACTLY what it says whether intended or unintended. It's hard to argue with rhetoric." Well, not for a lawyer. :) You see, lawyers make the law illogical so we can charge more money. (I hope I’m teasing??? :confuse: )

    Even if we were to call the ad a legally binding offer, the second you start to negotiate price or any other term, all bets are off. Legally, at that point, you are making a counteroffer. Thus, even if your $275 bank fee was legally correct, the dealership/AHFC is under no obligation to transfer that fee to a different deal for the car at a lower price. You'd be better off negotiating 1000+ off the price and paying the full bank fee anyway...

    ...
    John/delta, on a personal note...

    "Regarding my question concerning whether Walt worked for Honda/Acura. I meant nothing by it, so please, don't draw falacious inferences or erroneous conclusions. YOU don't know me so don't pretend that you do. ... You have no clue what was on my mind and neither does anyone else. "

    It has nothing to do with whether I know you, or whether you actually meant what was implied. It is the reasonable and direct inference people will draw when one makes a statement like that. Especially when dispensing specialized knowledge, it is easy to come across as arrogant/rude on the internet when we cannot hear the tone of people's voices. I myself have been guilty of it on occasion. :blush:

    So, you didn't mean it that way, which is excellent. :) But when a recipient makes natural inferences on what appears on its face to be an aggressive statement, it is not the fault of the recipient. Just put a smiley on the end of a question like that and we'll all know you're kidding next time... :) oh, and btw, not once did I question your help to others... I simply asked that you not attack others that also help.

    -apz4 :shades:
  • kyfdxkyfdx Moderator Posts: 236,772
    I didn't mean to start an argument (just finish one..lol).

    My only issue is that it's better to concentrate on what deal can actually be achieved, than to focus on the advertising. Not many of us could marshal the forces needed to hold a manufacturer to their advertising claims, even if we were attorneys. An ambiguous advertisement, with qualifiers in the fine print, at that.

    My attempt to clarify the ad was based on what I know about Acura/Honda leases.

    I considered the question about my allegiance to Honda/Acura to be humorous. After all, it says right at the top of the page: Consumer Driven

    No harm done.. anyway, this isn't my discussion, it belongs to Car_man.. ;)

    regards,
    kyfdx

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  • delta737hdelta737h Member Posts: 626
    apz4,

    Your points are well taken. I'm not interested in litigation or legalities. I'm only interested in the reasonable man interpretation of what the Ad actually states. I won't debate this point any further other than to say let's just agree to disagree. Besides, I think it's rather petty and any concerns can be addressed with AHFC or the dealership. I'm reasonably confident that fair and honest treatment will prevail.

    I really appreciate your time taken to explain this issue from the legal perspective. I'm not an attorney but I have worked with them in the past as a certified expert witness in matters regarding the FRBB's Reg. M and Reg. Z.

    I do believe that lease rates (i.e., money factors, interest rates) should be disclosed. I'm not advocating the disclosure of an APR because it's usefulness is limited to determining outstanding lease balances in those instasnces where the actuarial or constant yield method is used. I'm also in favor of standardizing lease payment calculations. GMAC, for instance, does something very odd. They discount the residual one month nearer to the present and use the resulting "adjusted residual" to compute the lease payment. Ford Motor credit used to add 0.0011 to the capcost annuity factor to account for an acquisition fee. This meant that consumers would pay an additional $1.10 each month for every $1,000 of capitalized cost. Ford no longer does this. Instead, they charge a $595 acq. fee.

    Anyway, thanks for your comments and I'll try to watch what I say and how I say it.

    Best,

    John
    Medina, Ohio
  • apz4apz4 Member Posts: 7
    John,

    I'm glad we could resolve it. I understand what you're saying from a business perspective, and I agree. I just didn't want a reader here to misunderstand what you were saying and think they could take an aggressive legal stance with the dealership. From a business perspective, you're right, these ads are ridiculous. They always leave out a key piece of information or two in order to obfuscate the money factor and/or the residual.

    "I do believe that lease rates (i.e., money factors, interest rates) should be disclosed. "
    I couldn't agree more.

    I think the other problem with leasing is that the salespeople typically (in my experience) have no clue what is going on with the numbers. It's rare that you find one that does. I almost always end up dealing with the finance manager, cause they're the only one at the dealership who truly understands leasing. In fact, the only dealership I've been to where the salespeople actually run the lease numbers is at BMW. And I'm not sure if that is a BMW thing, or just my dealership.

    "I'm also in favor of standardizing lease payment calculations. "
    Yes, or at least requiring that they be more transparent and fully explained. The other problem is taxes. The taxation of leases varies from straight forward, to complex, to IMO obscene (Illinois). I wish the fed would encourage the states to standardize their taxing practices because of the burden it places on interstate commerce in the buying/selling of lease rights.

    Now, we just need a lobbyist as powerful as the entire automotive industry... :cry:
  • delta737hdelta737h Member Posts: 626
    apz4,

    I'm with you stride for stride. It's funny that you mention that you'll only deal with the finance manager. I, too, am the same way. I'll call the F&I person and request lease info (money factor, residual factor, acq. fee, etc) and then I'll create a one page lease proposal. Then, I'll FAX/email it to him or her. I have found that this has saved me lots of time, money, and aggravation.

    Once, I FAXED a sign and drive proposal and all the F&I guy could do was confirm my numbers. He said his software was not able to compute payments where the capitalized first payment exactly matched the remaining payments. He completed the lease agreement with the numbers from my proposal. When I arrived, I signed the papers and spent no more than 35 minutes at the dealership. Like you, I refuse to deal with sales people because they simply have no clue what a lease entails. Sales people will waste your time if you let them. So many of them are nothing more than order takers. Want fries with that?

    At any rate, I don't think we're going to solve these problems anytime soon. The best we can do is protect ourselves by being armed with knowledge because Knowledge = Power.

    Have a great day my good friend.

    John
  • delta737hdelta737h Member Posts: 626
    kyfdx,

    I apologize for having asked the question. I didn't intend to be insulting or offensive. You've done an outstanding job in these forums and deserve much more respect. I'm glad you could see the humor.

    Best,

    John
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey bobw92. Acura pulled the plug on its special lease money factors for the 2007 TSX in August. If you want to lease an '07 TSX now, you have to use its standard lease program and the $1,000 regional cash incentive that is available on leases of this car through Honda Finance. This regional cash incentive is available in New Mexico.

    Acura introduced a new national special lease program on the 2008 TSX, featuring a buy rate lease money factor of .00185 for consumers who qualify for its "Super Preferred" credit tier.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, revs1, the $1,000 lease cash that Acura is providing on the '07 TSX right now is available in Delaware.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kidcloudkiker. Acura is no longer providing special lease money factors on the 2007 TSX. As a result, if you were to lease one through Honda Finance, you would have to use its standard lease program. Don't even bother with a 24 month lease using the standard program, its money factor is terrible... .00385 for "Super Preferred" customers compared to .00290 for 36 months. Honda Finance's current 36 month, 15,000 mile per year residual value for an '07 TSX without navigation is 56%. The residual value for a lease with only 12,000 miles per year would be 2% higher. When negotiating your lease on the 2007 TSX that you are interested in, make sure to take advantage of the $1,000 regional cash incentive that Acura is providing on leases of it through Honda Finance. This offer is available in Ohio.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome confused13. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    You are right, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible. Once you arrive at a price that you are comfortable with, have the dealer that gives it to you calculate your lease payment using the buy rate lease money factor for the model that you want.

    Consumers can usually negotiate better deals on their own than the ones that are featured in manufacturers' advertised leases.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pollofrito81. Acura's lease program on the 2007 TSX is the same in August as it was in July. However in late July it introduced a special program on the 2008 TSX. It is now providing a special lease money factor of .00185 for "Super Preferred" tier customers on the '08 model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi delta737h. The $2,499 that is due at lease signing breaks down as follows: $309 first month's payment + $595 acquisition fee + $1,595 capitalized cost reduction. The security deposit is being waived on this special lease promotion.

    Car_man
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  • bnewton1bnewton1 Member Posts: 1
    I'm being told by a dealer here in the Dallas area that there is pretty much no dealing on selling price whatsoever on 2008 TSX with 6spd :( . Is this the case or am I being taken for a ride? :confuse:
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congrats on getting your new TSX, apz4. It looks like you got a very good deal. Thanks for taking he time to share the details of your lease with everyone. It will be very helpful for others who are in the market. Don't forget to stop by the new Dealer Ratings & Reviews section of this site to share your thoughts on your recent dealer experience. Enjoy your new ride :shades: .

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bnewton1. I have definitely seen consumers report getting pretty decent discounts on the 2008 TSX lately. I am not familiar with what the market is like for this particular model in your neck of the woods, but it wouldn't hurt to shop around to see if you can do better. You may want to try stopping by the following discussion to see how much others have reported paying for this car lately: "Acura TSX: Prices Paid & Buying Experience".

    Car_man
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  • confused13confused13 Member Posts: 17
    John, please email me a copy of your sample lease proposal. My email is masseygc@comcast.net. With your input, I think I am now (finally!) understanding the leasing "game", although I have one additional question on the ad you analyzed. The stated MSRP is $28,860 and the "Net Capitalized Cost" is $26,590 which is a difference of $2,270. However, the "Capitalized Cost Reduction" stated in the ad is only $1,595. What does the $675 difference represent? Is this a "discount" off the MSRP? Thanks for your help. I feel like I've done a good job of buying cars in the past, but I don't want to get hosed on a lease.
  • sharp2sharp2 Member Posts: 2
    Leased 2008 non/nav for 299/month (tax included )36 month 10k miles/year 2500.00 out of pocket.
  • pollofrito81pollofrito81 Member Posts: 9
    I leased an 08 TSX black on black 6 speed manual;

    2k out of pocket
    15k miles @ 36 months
    352 a month.

    Superpreferred Rate and 61% residual, my math says i bought the car for about 500 over invoice which is ok with me being it was an 08 and they had many 07's still available. I take delivery today, I cant wait!
  • vinayg1vinayg1 Member Posts: 28
    Hi. Does anyone know whether in general Acura has better lease deals in August or in September.

    My current lease is getting over end of September. Ideally, I would like to wait till the lease is almost over (why pay for 2 cars?). But if historically, Acura does not have any good lease deals in September, then I might lease the new one a bit early.

    TIA for any help.
  • yesaccaseyyesaccasey Member Posts: 6
    I just leased a 2008 TSX w/Navi
    12,000 Miles
    $2700 down (incl 1st pmt)
    $371.62 a month (FL TAX included)
    I think it may be around 350 before tax.
    They also threw in road hazard(which I can cancel within 30 days or something and get $377 cash back), window tint, and I got a protection package (cargo tray, wheel locks, mud guards, etc).

    What do you all think? The guy was acting like he was giving it away... of course. Just wandering how much BS he was actually feeding me. I always like to think I get the best deal... I had to work pretty hard to get this price, so I hope it was worth it.

    P.S.
    I picked up the car tonight and loooved it. I can't wait until the tint seals and I can go for a nice drive.
  • vinayg1vinayg1 Member Posts: 28
    Could anyone tell me whether the residual value is calculated off MSRP or the negotiated price?
  • dad23dad23 Member Posts: 870
    MSRP
  • thechairman1thechairman1 Member Posts: 13
    Just picked up my new TSX. 2008, non-nav, automatic trans. Leased for 36 mths, 12,000 miles per year, nothing down except fees of about $1380 (i.e., no cap cost reduction). $332/mth.
  • kap8kap8 Member Posts: 22
    wow. is that with taxes rolled in? If so, would you mind letting us know what your cap cost was, what your sales tax rate is, your money factor and residual value and WHERE in Jersey you leased from?!?

    Thanks!!
  • cwalk1cwalk1 Member Posts: 13
    New to the board.

    I am moving back East and have to get rid of my 2007 TSX lease. Anyone know the easiest process? Insights, anything??

    Would be extremely grateful for any info.

    thanks!
  • trickydicktrickydick Member Posts: 37
    Car Man,

    Please let me know how this sounds for a 2008 Acura TSX lease, 5 speed automatic, no navi, in New Jersey:

    Selling price = $26,586
    Money factor = .001850 (salesman said this was "Tier 1")
    Residual = 63%
    Down payment = $629 (includes first month and DMV plates)
    Term = 36 months
    Miles = 12k
    Total Payments (includes all else rolled in) = $366/month

    Salesman is also offering all of the above, but instead, $1410 down (bank fee, DMV, Doc fees, and first month) for $340/month, which includes tax.

    How do these lease deals sound? Do you think I can do better? Thanks.

    TrickyDick
  • plasticmoonraiplasticmoonrai Member Posts: 6
    According to Edmunds, the manufacturer is offering "marketing support" for the 2007 TSX in the form of $1,500 cash to dealers. It then says, "Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement."

    What does this mean in terms of negotiating a lease?

    THANKS.
  • mrebellonmrebellon Member Posts: 2
    what state do you live in? We are in Illinois trying to get a similar deal with no luck!
  • mrebellonmrebellon Member Posts: 2
    We are looking at the same lease special in Illinois but the dealers are not giving us the $309/month. I don't know why. Can you tell me if the dealer comes up with the $1595 cap cost reduction or do I? Also is the $2499 not including sales tax? I thought the tax was already rolled into the payment on a lease. Different dealers keep changing the residual value and money factor and none match the special on the AHFC website. Is that legal? I am so confused!
  • creativityrulecreativityrule Member Posts: 3
    Those numbers are way off.
    With zero down, you should be able to get it down to ~$340/month depending on the sales tax.
    Never put money down on a lease.
    You should pay (bank fee/doc fee) + DMV + first month only or roll in the bank fee and doc fee into the adjusted cap cost.
  • trickydicktrickydick Member Posts: 37
    Thanks Creativity. Any suggestions on how I should approach these negotiations? Is the selling price too high? Or the money factor? Or is the residual inconsistent with what it should be?

    According to another dealer I contacted with a request to beat those numbers, those figures are in line with what the market is offering in NJ, which is about $750 over dealer invoice. I believe the NJ sales tax is 7%.

    Any help or advice is greatly appreciated.

    TrickyDick
  • rick5262rick5262 Member Posts: 3
    I just leased a 2008 TSX No Navi, 5AT in SoCal
    Glacier Blue with Quartz interior
    10,000 Miles
    $2499 down (incl 1st pmt)
    $303.09 a month (LA county TAX included, 8.25%)

    I got wheel locks, mud guards for free

    What do you all think? I got this deal after emailing several dealers in LA and orange county.
  • carx22carx22 Member Posts: 3
    Hey guys,

    I am new to the leasing game and am having trouble running the numbers. I live in MD where sales tax is calc on the entire vehicle not just the lease payments. Does anyone have a good calc program or formula chart that might help? The one on edmunds seems to give me much higher numbers than what the dealers give me. Thanks!
  • cosmedent1cosmedent1 Member Posts: 2
    The internet manager at the acura dealership I am negotiating with tells me that for a 36 month, 12K mile lease the residual is 61%. I thought it was 63%. Can someone help me find the true residual for Sept. He told me he would show me the "acura bulletin reflecting this".
  • drgolfdrgolf Member Posts: 5
    both residual and money factor went down in Sep (vs Aug); however they appear to almost exactly offset one another.
    MF is now .00152 and residual is 61%
  • carx22carx22 Member Posts: 3
    Anyone know the current money factor and residual on the 07s?
  • cosmedent1cosmedent1 Member Posts: 2
    Thanks for the info. I will be heading to the dealership at the end of the week to finalize things.
  • drgolfdrgolf Member Posts: 5
    If any help, I'm picking up 2008 TSX 6MT, non-Navi this Thursday (Silver/Ebony).
    Lease is 36 months w/ 12k mi/yr.
    $0 down and $389/month (that's all - 36 pmts of $389)
    Includes accessories package - wheel locks, splash guards and trunk tray.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome cwalk1. Normally I would advise someone who was looking to get out of their lease really early to try to get someone else to assume their deal by visiting a site like Swap A Lease. I didn't think that Honda Finance allowed the transfer of leases, but I see several Acuras listed on that site so it may now (or these may just cars that were leased through independent banks). Check with the bank that you are leasing your TSX through to see if they allow lease transfers.

    If they don't or you can't find anyone who is willing to assume your lease, you will have to purchase the vehicle that you are currently leasing from the bank that you are leasing it through and try to sell it or trade it in. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now.

    Unfortunately, it could end up being very expensive to get out of your TL lease well before its scheduled end date.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi plasticmoonrai. Acura is currently providing $1,500 dealer cash on the 2007 Acura TSX to all dealers. Make sure to use this cash to negotiate a selling price that is below dealer invoice on the car that you want to lease.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi TrickyDick. The best way to get a good deal on a lease of a 2007 Acura TSX is to negotiate as low a selling price as you can on the car that you want and then have the dealer that you are working with calculate your monthly payment using Honda Finance's current buy rate lease money factor. Honda Finance's current buy rate for a 36 month lease of a 2008 TSX is .00152 for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing. $750 over dealer invoice is a pretty good deal on this car, but in an area that has a lot of competition, like the one that you are in, I would not be surprised if you were able to beat it by a couple hundred dollars.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rick5262. You never mentioned the selling price of the car that you leased. Looking at vehicles' selling prices is a great way to evaluate leases. Let me know what this car's selling price was and I'll tell you what I think.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi carx22. Have you tried calculating this car's lease payment manually rather than using an on-line calculator? That's how I always calculate lease payments. I plug the formula that is outlined in the following formula into Excel: Calculate Your Own Lease Payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I would be happy to give you an idea of what this car's current lease program is like, carx22. Vehicles' lease programs vary by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Through October 31st, Honda Finance's buy rate lease money factor and residual value for a 36 month lease of a 2007 Acura TSX without navigation with 15,000 miles per year are .00275 and 54%, respectively for consumers who qualify for its "Super Preferred" credit tier and pay a security deposit at lease signing.

    When negotiating your lease on this car, make sure to take advantage of the $1,500 dealer cash that is currently available on it. This cash will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • valariousvalarious Member Posts: 5
    Looking at trading in my 2005 TSX with Navi for a 2008 TSX with Navi. I have about 37,000 miles on my current TSX with a payoff of 21,600 to the dealer...Higher for me if I sold it. They offered to payoff the car with no negative equity rolled in, pay first months payment at signing, $466 a month for 3 years, 10,000 miles per year. Sound like a pretty good deal? Its about $7 a month higher than I currently pay. I do not plan on turning the car in at the end of the month, I would either trade it in or sell it private party. I would probably drive over 10,000 miles per year, but does it really matter if I am not going to turn the car in?
  • valariousvalarious Member Posts: 5
    Trading in the 2005, $455/month 36 months, 12,000 miles per year. $455 due at signing. They are paying off the 2005 completely. $4 less per month than I pay now for a new 2008 black/ebony with Navi.
  • jvosjvos Member Posts: 91
    The deal I am currently negotiation on a 2008 TSX is as follows:
    $26,631.00 for the TSX, $58.48 for the title transfer, $1,868.26 for the tax, $15.00 for the county fee and $143.00 for new plates. This totals $28,715.74 out the door.
    (Note this is IL, so tax is included up front.)
    Using a 36mo X 15K mile term of .00152 and 61%, I come up with a monthly payment of $309.
    First of all, did I do the math right?
    Second, does this seem like a good deal?
    Thanks.
  • jvosjvos Member Posts: 91
    The dealer is giving a payment of $442, so one of us is WAY off.
  • rtoys1rtoys1 Member Posts: 5
    Hello,

    I'm new to leasing and am trying hard not to be taken for a ride by some "creative" car dealership in NNJ area! :) Can you please tell us which dealership you got your car from? I'm thinking of getting mine (08 TSX auto w/o navi, 36 months, 12K/yr) from Park Avenue Acura ... only because it's closest to my home base.

    Thanks in advance
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